Inequality & Deja Vu

Commentators are already starting to frame this upcoming election as a referendum on the nebulous concept of inequality.

With that in mind, it’s useful and perhaps instructive to take a step back: we’ve been through this before. Here, a young student in the audience expresses his concern over income inequality & poverty, and Milton Friedman responds eloquently, adressing along the way the very underpinnings of the idea of equitable wealth (or wealth redistribution).

 

The nice thing about this video is it touches upon some of the central tensions between the Democratic & Republican camps and their respective views of what our economic system should be. Check out the YouTube channel for more videos of Friedman answering questions from undergrads: Aside from the slightly longer hairstyles & rimmed glasses one can almost imagine the same conversation occuring in the present day at Spaulding Auditorium.

 –Ke Ding